Koyal Group To Take Position In Apple
On Tuesday Apple broke its 200 day moving average, spurring comments from multiple high profile investors, including Carl Ichan and Larry Ellison. The price is continually rising, Koyal Group will take a position.
Tokyo (I-Newswire) August 15, 2013 - For the first time this year, on Tuesday Apple broke its 200 day moving average, a gauge that analysts use to assess the overall trend of a stock over a longer period of time rather than day to day fluctuations. The stock climbed nearly 5% to close at $489.57, its highest level since the end of January this year. Analysts at Koyal Group believe the Apple, with its upcoming product line to debut next month, has turned the corner and expect the stock price to climb significantly by the end of the year.
"We will be taking a moderately sized position in the company, but I can not disclose the exact number of shares we will purchase at this moment. I am setting our target share price at $625 and I expect them to achieve this figure in the next 10 months," said CEO of Koyal Group Edward Neilson.
There has been a flurry of statements about the company from billionaire investors. Oracle´s CEO Larry Ellison said that Apple is "doomed" with out its visionary CEO Steve Jobs. But Koyal Group's analysts disagree stating that new appointed CEO Tim Cook has been with the company since its beginning and he has been running Apple for the past two years before Jobs pasted on. During that time Apple has averaged $700 million a week in profits.
Activist investor Carl Ichan disagreed with Ellison and said that Apple is seriously undervalued. He released statements on twitter saying so, and the stock price rose $9 in three minutes, it finished the day up just over $22. Analysts at Koyal Group are confident that with the help of Ichan Apple with approach its 52 week high.
About Koyal Group
Welcome to Koyal Group Online, where equity research solutions are made reality.
Koya More..l Group was founded and established in Tokyo, Japan, in the year 2003 by a diverse group of financial professionals with a combined knowledge encompassing stock market investment and trading, compliance, accounting and legislation. Over the past 10 years Koyal Group has worked with some of the worlds largest corporations as well as a large number of high net worth individuals to achieve strong investment returns in difficult market conditions.Less..
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Published On:August 15, 2013
Print Release:Print Release
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